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Home Q & A Board Other Fields Homework Help Business Accounting
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LiChan LiChan
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7 years ago
The Andre Company purchased 15,000 pounds of direct material at $12.50 per pound. It used 13,000 pounds to make 8,000 finished units. The standard cost for direct material is $13.00 per pound and the quantity standard is 1.5 pounds per finished unit. The Andre Company uses a standard cost system.

REQUIRED:
1.)   How much should the company have paid for the 15,000 pounds?
2.)   Determine the direct material price variance based upon the amount of direct material purchased.
3.)   How many pounds of direct material should have been used to make the 8,000 finished units?
4.)   Determine the direct material quantity variance in pounds of material.
5.)   Determine the direct material quantity variance in dollars.
Textbook 
Survey of Accounting: Making Sense of Business

Survey of Accounting: Making Sense of Business


Edition: 1st
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hol23hol23
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7 years ago
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LiChan Author
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#2
7 years ago
How do you know this stuff so well, wish I was as smart
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